RBI governor's fixed tenure lowest among all major central banks

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Reserve Bank of India (RBI) Governor Raghuram Rajan told a parliamentary panel that a three-year term for a central bank governor was not enough and it should be made in line with other global central bank heads' tenure. Although the RBI governor's stint is renewable, the minimum allotted period of three years is the lowest among all major central banks.

There are examples of central bank chiefs continuing for two decades, the most celebrated of whom is the US Federal Reserve chief Alan Greenspan who served for 19 years. However, the minimum term for US Fed chair is fixed at four years, still higher than a RBI governor's fixed tenure.

Here is the list of some important global central banks and the terms of appointment of their governors, reports Anup Roy